Demonstrating confidence in the economic recovery of the nation, Janashakthi Group launched JXG, a new identity for the parent brand under which group companies including Janashakthi Insurance, First Capital and Orient Finance will operate. The JXG brand leverages the strong and trustworthy credentials of the 28-year-old Janashakthi brand, whilst shaping a new corporate identity as a parent that will invest in its people, businesses and local communities, and the wider economy – all with a shared sense of purpose.

Commenting on the idea behind the brand, Managing Director and Group Chief Executive Officer Ramesh Schaffter explains: “JXG was envisioned as an exciting, exceptional, dynamic and progressive entity that positions the group as an agile and inspired entity, marking a new beginning as we consolidate our identity and purpose as a conglomerate.”

“JXG marks an exciting future journey that will be characterised by strategic mergers and acquisitions along with organic growth to add value to shareholders and stakeholders, leading with a purpose of investing in the nation’s future,” he says.

The JXG brand’s launch comes at a critical moment in the nation’s economic history when it needs corporates to invest in its future.

As a member of the group and pioneering investment institution in Sri Lanka, First Capital has offered a gamut of financial services to facilitate investments for over 40 years. It is also a leading non-bank primary dealer licensed by the Central Bank of Sri Lanka (CBSL).

Janashakthi Life made its mark as an innovator and a household name in the life insurance sector, striving to deliver its core purpose of uplifting lives and empowering the dreams of millions of Sri Lankans over a span of 28 years.

And as a non-banking finance institution, Orient Finance has positioned itself as an innovative, customer centric financial services provider, offering timely products for over 40 years to facilitate investments for the growth of the economy.

“We firmly believe that this is the very purpose of business – to stimulate growth and create value, which is the main purpose of JXG,” affirms Schaffter.

The creation of JXG is driving change across its group businesses, ushering in operational and financial efficiencies due to its strategic shared services model, and enabling the conglomerate to run a more agile and responsive operation in response to market and economic trends.

Moreover, JXG offers strong employer branding to attract and retain employees who are inspired through a sense of affinity to the parent company to adopt shared group values. In recent months, staff have been educated on the purpose behind JXG and incentivised to subscribe to those values through ‘Value Awards’ and various group initiatives, including training and development.

JXG continues to invest heavily in employees as it believes in career progression through a culture of meritocracy and rewarding performance. A seven month leadership training programme was designed in partnership with the Postgraduate Institute of Management (PIM) to develop the next level of leadership.

The group recently secured strong improvements in its Great Place to Work evaluation, which reflect the success of its branding as it strives to continue improving employee satisfaction. JXG plans to bring its team under one roof to further enhance group shared services synergies in one location.

“Our employees feel a sense of ownership and belonging to a higher purpose to create value across the group and for the nation,” Schaffter notes, adding: “The ‘X’ in JXG is a differentiator – exemplifying all of the characteristics built into its ethos and DNA. X stands for our aspirations to be exciting, exceptional and extraordinary in what we do.”

The JXG Group believes that success is not only about profitability but that businesses should have a higher purpose, which is why the Janashakthi Foundation – the philanthropic arm of Janashakthi Group – was established to invest in the pillars of education, sports and community.

Looking ahead, Schaffter says, “We’re in continuous discussions about possible mergers and acquisitions across every group company because we believe that in financial services especially, critical mass is important. While we push for inorganic growth, our efforts to achieve aggressive organic growth will continue. The core strategy of JXG is to always keep moving through continuous growth and expansion.”

JXG is also investing in advanced technologies for the group including artificial intelligence and digitalisation. Its group companies are pioneers in adopting electronic ‘know your customer’ (e-KYC) processes for electronic client onboarding, promoting digital trading and embracing virtual offices for insurance agents for the real-time processing of insurance solutions.

In his concluding remarks, Schaffter says, “JXG is a Sri Lankan group committed to Sri Lanka’s prosperity and we want to grow beyond its shores by tapping into foreign markets over the next decade to achieve our ambitious goals.”

– Compiled by Yamini Sequiera

Telephone: 2145004 | Email: ceo@jxg.lk | Website: www.jxg.lk